FDI:PERMITTING INVESTMENTS FROM PAKISTAN (PN No.. 3 (2012 SERIES), DATED 1-8-2012)

Dear friends,

As per  paragraph 3.1.1 of 'Circular 1 of 2012 - Consolidated FDI Policy', effective from 10-4-2012, investment from a citizen of Pakistan or an entity incorporated in Pakistan is not permitted .

The Government of India has reviewed the policy, as contained in paragraph 3.1.1 of the circular ibid and decided to permit a citizen of Pakistan or an entity incorporated in Pakistan to make investments in India, under the Government route, in sectors/activities other than defence, space and atomic energy

Accordingly, Paragraph 3.1.1 of 'Circular 1 of 2012 - Consolidated FDI Policy', effective from 10-4-2012, is amended to read as below:

"3.1.1 A non-resident entity can invest in India, subject to the FDI Policy. A citizen of Bangladesh or an entity incorporated in Bangladesh can invest only under the Government route. A citizen of Pakistan or an entity incorporated in Pakistan can invest, only under the Government route, in sectors/activities other than defence, space and atomic energy."

The above decision will take immediate effect. 

(PRESS NOTE NO. 3 (2012 SERIES), DATED 1-8-2012)

With regards,
Bipul Kumar
FEMA & Tax Advisory Services
Wisdom Management Consultancy Private Limited
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